When the range is 34 pips. A 13 the pip move is worth talking about
The EURUSD is getting a little push higher in early NA trading. When I say little, it means about 13 pips but when the range for the trading day is 34 pips, that is a big percentage of the days range.
The close from Friday at 1.0588 will be the next target to get and stay above if the buyers are to take more control.
Earlier today, the price fell below the low from last week (at 1.0566) to 1.05625 and in the process, traded at the lowest level since April 15th. There were actually two separate looks below that low and each failed. That may be driving the last little push back higher (it does not take much on a quiet day).
The market buyers and sellers are sparring with each other at the moment. It is month end. There are bigger events later in the week, but 34 pips???? That is not a trading day. I know the ECB and US employment later in the week will likely ignite some stronger fireworks (or should).
We should see an extension at some point. The buyers are trying to show they can now take back control. Get above the 1.0588 and turn positive on the day, and more traders may start to agree with that idea.
